Political Quotes

“today the Senate has passed the bipartisan Need-Based Educational Aid Act of 2015, which will extend for another 7 years the anti-trust exemption permitting colleges and universities to collaborate on issues of need-based financial aid. I worked on this legislation with Senators Grassley and Lee. Together we crafted an approach to reauthorize this exemption which earned the unanimous support of the Judiciary Committee just last week. This anti-trust exemption allows colleges and universities that admit students on a need-blind basis to collaborate on the formula used to determine how much families can pay for college. Without congressional action, this exemption will expire at the end of September. Congress first enacted this exemption in 1994 and this will be the third time we have acted to reauthorize it. It is important for Congress to carefully review anti-trust exemptions to ensure that they continue to serve the public interest. In this case, our review led us to conclude that one particular provision should sunset because it has never been used by colleges and universities. The need for this slight modification underscores why I am skeptical of permanent anti-trust exemptions. Requiring those who benefit from exemptions to the anti- trust laws to come to Congress and justify renewal ensures that they do not become a blank check for anti-competitive behavior.…”